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Indian stock market witnessed a two-way rally today as the market is eyeing the interest rate debate in the US and whether there will be a cap on it. Indian markets today were caught between a boom and a recession. The market opened on a bullish note but ended the day almost flat as selling force increased during the day. The BSE Sensex closed at 61,982, up 18 points. Similarly, the NSE Nifty closed at 18,348, up 34 points.
Top Gainers (NSE)
company | Closing Price (Rs.) | increase (%) |
Adani Enterprises | 2633.70 | 13.22 |
Devi’s Laboratory | 3385.80 | 3.70 |
Bajaj Finserv | 1437.25 | 1.72 |
Etcher Motors | 3601.60 | 1.58 |
UPL | 680.65 | 1.53 |
market sentiment optimistic
Rupak Dey, Senior Technical Analyst, LKP Securities said that despite lack of significant volatility, the market sentiment remained optimistic as Nifty managed to hold its position above the support level of 18300. However, an important resistance was seen at 18500. If Nifty manages to break this resistance decisively, it can potentially move towards 18,800 levels.
Adani’s market cap is Rs. 11 lakh crore
Despite the selling pressure in the market, Adani Group shares saw good buying today. Adani shares gained for the third day in a row along with the group’s intraday market cap. 11 lakh crore was crossed. There is good buying in all stocks including Adani Enterprises, Adani Ports, Adani Power.
Top Losers (NSE)
company | Closing Price (Rs.) | Reduce (%) |
Tech Mahindra | 1090.50 | 1.26 |
Grasim Industries | 1697.95 | 1.19 |
Apollo Hospitals | 4550.40 | 1.19 |
HCL Technologies | 1107.35 | 1.12 |
Titan Company | 2683.45 | 1.07 |
regional exposure
Sector-wise, the Metal index advanced 2.6% and the Power index advanced 1%, while buying was also seen in Oil & Gas, Auto, FMCG and Healthcare. Some selling was seen in capital goods, information technology and realty stocks.